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2009 Archives

Do you think that the great United States of America can grow their way out of their debt problem? It is possible but hard to believe given the massive debt created over the last couple of years. Remember Canada was the laughing...

We deal in probabilities. For the last month the probabilities favoured a setback in the markets. Now as the correction develops we have to decide whether the jump in markets from March to October was a bear market rally or the start of...

As I write this on October 4th the equity markets are falling back towards their respective 50 day moving averages. When a market hits that point, a market is essentially in the middle of the range for the last 50 days. If it breaks this...

In the investment industry we have a habit of suggesting that investors have some risk in their portfolios as we believe that risk assets (equities) will perform better over time. Very rarely has there been a time when the risk assets have had...

In the past year there has been a tremendous upheaval in the financial markets. All of us have been worried about the effect that these moves have on our assets, and therefore lifestyles. In the last 5 months the markets have bounced....

We have enjoyed a near 4 month reprieve from the massive decline in equities that started in October 2007 and really accelerated in September 2008. After this massive decline we had been saying that a rally is likely and that it would probably...

The diverse view of market experts continues. You might think that our opinions are easy now that the market has started to rally. It is obvious that the equity markets are going up, and therefore it must be obvious that we should be...

We have seen a dramatic rise from the low. As I write this the TSX has just gone through 10,000. That is up 33% from the low of 7500 but still down 33% from the high of last year of 15,000. It is wonderful to see a rally and now we...

As part of its efforts to stabilize the economy, the Federal Reserve said it will purchase mortgage-related securities and government bonds. Effectively, the Fed will print more money to pay for the program, which is designed to reduce borrowing...